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"renewable contract" is a correct and usable phrase in written English.
You can use this phrase when referring to a contract that can be renewed, typically due to the terms of the contract itself or after an agreement between the two parties involved in the contract. For example, "The renewable contract allows the parties to renew the terms if both agree, but otherwise, the contract will expire at a set date."
Exact(11)
When Alessandra Santoro, 31, lost her job in October at a client relations company in Rome that worked with Alitalia, the former national airline of Italy, she got no severance pay because she had been hired on a short-term renewable contract, which was simply not renewed.
Under his new two-year renewable contract, his salary will remain $350,000 a year.
MacNeil/Lehrer Productions and WETA produce "NewsHour," which is a nonprofit program, under an annually renewable contract.
Hewlett-Packard leased a house in Silicon Valley on a 90-day, renewable contract for Mr. Capellas, a company executive said.
The company announced a three year contract extension with Service Birmingham - a joint venture between Birmingham City council and Capita - worth £220,000 on what was previously an annually renewable contract.
They began a drive to ensure that farmers at last got long-promised certificates showing the exact boundaries of their fields and housing as well as confirming their rights to use them (farmland is subject to a 30-year renewable contract).Without such documents a market could not take off.
Similar(49)
They're all on one-year renewable contracts.
Q.: What about proposals for renewable contracts for teachers instead of tenure?
"Different social norms could entail something entirely different: yearly renewable contracts, for example".
Landlords and tenants find themselves in poisonous relationships, since they are linked by law rather than by voluntarily renewable contracts.
The Senate bill, passed in a last-minute flurry of negotiations, would replace tenure with three-year renewable contracts.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com